H&R Block (NYSE:HRB) Sees Strong Trading Volume – What’s Next?

Shares of H&R Block, Inc. (NYSE:HRB) saw unusually-strong trading volume on Tuesday . 2,069,396 shares changed hands during mid-day trading, a decline of 13% from the previous session’s volume of 2,383,632 shares.The stock last traded at $45.9960 and had previously closed at $45.93.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research cut H&R Block from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of H&R Block from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Barrington Research restated an “outperform” rating and issued a $50.00 price objective on shares of H&R Block in a report on Monday, April 27th. Finally, Stephens assumed coverage on shares of H&R Block in a research note on Tuesday, July 28th. They issued an “equal weight” rating and a $47.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, H&R Block currently has a consensus rating of “Hold” and a consensus target price of $43.00.

H&R Block Stock Performance

The stock has a fifty day simple moving average of $39.84 and a 200-day simple moving average of $35.68. The stock has a market cap of $5.85 billion, a P/E ratio of 8.21, a PEG ratio of 0.65 and a beta of 0.34.

Institutional Trading of H&R Block

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new position in H&R Block during the fourth quarter worth about $28,000. Valley National Advisers Inc. bought a new stake in H&R Block in the fourth quarter valued at approximately $34,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of H&R Block by 54.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 895 shares of the company’s stock valued at $34,000 after buying an additional 314 shares during the last quarter. Signaturefd LLC lifted its position in shares of H&R Block by 82.1% in the fourth quarter. Signaturefd LLC now owns 843 shares of the company’s stock valued at $37,000 after buying an additional 380 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of H&R Block by 100.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 711 shares of the company’s stock worth $39,000 after acquiring an additional 357 shares during the period. 90.14% of the stock is owned by institutional investors.

About H&R Block

H&R Block (NYSE: HRB) is a leading provider of tax preparation services and software solutions, serving individual and small-business clients through a combination of retail offices, online platforms and mobile applications. The company offers assisted tax preparation at its network of retail offices, where clients work with trained tax professionals, as well as do-it-yourself (DIY) software and online filing services designed to guide users through the complexities of federal and state tax returns.

Founded in 1955 by brothers Henry W.